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• A so-called bailout designed to give money to the banksters without accountability of where the money is going. This is according to testimony of Elizabeth Warren, Harvard law professor appointed to oversee the bailout for Congress, with video explanation below. The bankster-bailout was chosen rather than simply protecting depositors and reorganizing the banks under standard bankruptcy procedure. The two oligarchy political parties denied Congressional hearings for the bankster-bailout, which should have considered cost-benefit analysis for public banks rather than private banks. An important fact that would have come out of the hearings is that the total market capitalization of all the major US banks was less than $300 billion; meaning that the government could have outright bought all of them for less than a tenth of the amount given away. Think about that.
• A 2009 record payout to bank employees, including lucrative bonuses, on pace for $140 billion. Goldman Sachs, with three recent CEOs who have also been Secretary of the US Treasury, is doubling their bonuses from 2008.
• Depression-level unemployment, with the government’s “official figures” understating true unemployment by half.
• The economic crushing of the American middle class, as explained by Elizabeth Warren in her video.
• Record high home foreclosures. An alternative policy to the bankster-bailout would have been to have the banks write-down the value of the mortgages they fraudulently wrote, and reset that lower value as the new loan amount for the homeowner. This could have been a preliminary move to creating non-profit mortgage rates for the public benefit.
• Record federal budget deficit of $1.4 trillion.
• Record federal debt of $12 trillion with annual interest payments of ~$450 billion every year. The oligarchy has no policy to ever pay the national debt, only to make the minimum interest payment.
• Record total US debt from all sources of over $70 trillion.
Dylan Ratigan of MSNBC’s show,“Morning Meeting,” calls the economic “bailout” and subsequent policy,“the largest theft and cover-up ever,”“the worst deal since the Indians sold Manhattan,”“the ‘Masters of the Universe’ are on the take from the taxpayers,”“the biggest transfer of money in the history of the world,” and “No one, the Pharaohs, you pick ‘em, no one even comes close to how much the banks and politicians have stolen from us.” His video is also below.
Continue reading on Examiner.com : 2009 US economy: largest transfer of wealth to financial/political elite in global history - Los Angeles LA County Nonpartisan | Examiner.com
Go ahead, you fools. Protect those big banks that robbed you blind. Trillions of American dollars are gone. Gone, gone, gone. Out of the country gone. Never to be seen again. Your money, my money. America is broke, period. You and I have nothing. What little is left is being manipulated right out of our hands. So close your eyes and pretend it's all Obama's fault if it makes you feel better. Fact is, you'd better start worrying more about what we need to do to get our money back rather than keep doing the finger-pointing game.
Aquarius
